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ARTICLE · 09 MAY 2013

Supervision Of Financial Conglomerates

De Brauw Blackstone Westbroek
De Brauw Blackstone Westbroek
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A bill has been submitted to parliament implementing the European Directive on financial conglomerates.

NetherlandsFinance and Banking
Francine Schlingmann
Francine Schlingmann
Joost Schutte
Joost Schutte
Marnix Somsen
Marnix Somsen
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A bill has been submitted to parliament implementing the European Directive on financial conglomerates. The Directive contains prudential rules for banks, insurers and investment companies forming part of a financial conglomerate, and is aimed at ensuring consistency between the different forms of group supervision.

The main changes are:

  • New rules for the cooperation between the various supervisors involved in a financial conglomerate.
  • The European supervisors may adopt common guidelines.
  • Member States may require the coordinating supervisor to carry out stress tests at financial conglomerates.
  • Financial conglomerates have to give more insight into the legal structure, management and organisational structure of the group, and must publish annual information on this.

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